1. Narrow your marketing efforts. Choose a select audience, rather than the mass market. Effective prospecting is about going after business from those most likely to buy from you. So start with the more general mass market, and refine it to the specific group(s) most likely to buy your product.

2. Start from square one. The ultimate goal is maximum profit. But the first step is to identify specific markets that are hungry for the benefits your product or service provides.

These are high-probability customers. Work those markets to cull grade “A” prospects…then work those prospects over and over again to convert the maximum number into firsttime customers. Then serve those customers well so they continue to buy from you again and again.

1. MARKET – identifiable segment of the marketplace
2. PROSPECTS – expressed interest in your offer
3. CUSTOMERS – willing to spend money to acquire what is offered
4. SALES – actual revenue generated from first time buyers and repeat buyers
5. PROFIT – bottom line results
3. Focus on prospecting.

Too many businesses of all sizes focus on sales and profits. But that’s only part of the equation and NOT the most important part.

Business success begins  much earlier in the cycle – at the prospecting stage. But just any “prospect” or “lead” won’t do.

You want interested, targeted prospects who not only need what you offer — but want it and are willing to spend money to acquire these alluring benefits for
themselves.

Prospects are the foundation. A flow of quality leads or prospects is what fuels your business. Good quality leads convert to customers in higher percentages.

The higher that rate of conversion, the lower your costs and the more profit you’ll earn. A steady stream of qualified leads keeps the vital business machinery functioning.

Prospects become customers and paying customers are what effectively put you in business from day one — and keeps your enterprise open and thriving. Without a large pool of interested prospects, you’ll only grow frustrated. Sooner or later, a lack of customers will drive even the best-financed and organized operation out of business.

4. Profit from your prospect list. Good prospects are golden. But leads that don’t convert to customers are still an asset that can be sold elsewhere – earning you additional revenue. But don’t give up good names too early in the process.

5. Insure your business against failure. Few businesses fail when they enjoy a consistent stream of topnotch leads. Quality leads are fresh, hot prospects who are ready, willing, and able to spend money on products and services that solve their pressing problems, or move them closer to their dreams.